Africa Two-Wheeler Tire Market Size Volume to Cross 11.05 million Units by 2029

Africa Two-Wheeler Tire Market

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated Africa two-wheeler tire market size volume at 8.15 million units in 2022. During the forecast period between 2023 and 2029, BlueWeave expects Africa two-wheeler tire market size volume to grow at a steady CAGR of 4.5% reaching 11.05 million units by 2029. Major factors for the expansion of Africa two-wheeler tire market include increasing fleet size, growing automation, and high adoption of mopeds. Climate change, rising temperature and sea levels, shifting precipitation patterns, and extreme weather patterns are altering African countries’ socioeconomic status. It is affecting road infrastructure, resulting in the frequency of tire replacement is escalating in African countries. These elements are boosting two-wheeler tire sales in the region and are expected to influence growth during the forecast period as well. Continuous commercial expansion of the region’s leading tire firms by improving their product portfolio and consumer outreach through increased dealer addition is expected to increase competitiveness in the Africa two-wheeler tire market during the forecast period. However, volatile raw material prices are anticipated to limit the overall market growth.

Africa Two-Wheeler Tire Market

Growth Drivers

Increasing demand for electric two-wheelers

Traffic jams has become a major issue in many African countries. In recent years, Nigeria, Ghana, Tanzania, and other African countries have observed a rapid growth in commute time inside African cities. People in these countries have resorted to employ other modes of transportation to avoid traffic congestion. Two-wheelers have been a plausible approach to Africa’s growing traffic congestion. Several benefits associated with two-wheelers, such as their compact size, ease of driving in severe road and traffic conditions, and cost benefits due to low fuel use, are major factors driving the demand for two-wheeler tires. In Africa, motorization is still exceedingly low, and electric vehicles are virtually non-existent. As a result, the conventional motorcycle market is expanding rapidly in parallel with the economy and population growth. Electric two-wheelers are currently gaining traction throughout Africa. E-mobility is gaining popularity in the region’s government and commercial sectors, motivated by concerns about health and the environment, as well as a desire to reduce dependency on oil imports. From boda-bodas to motorcycle taxis, the region’s e-mobility area of motorcycles and mobility scooters has witnessed a phenomenal growth. The government is enacting new regulations to encourage the use of e-bikes in the region. For instance, to allow, facilitate, and deploy electric vehicle mobility in South Africa, the Technology Innovation Agency created the national uYilo eMobility Program. As a multi-stakeholder initiative, the uYiloProgram engages in several initiatives, encompassing government lobbying, industry involvement, pilot projects, capacity building, enterprise growth, and thought leadership. These initiatives could propel the growth of electric mobility in South Africa.

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Africa Two-Wheeler Tire Market – By Vehicle Type

By vehicle type, Africa two-wheeler tire market is bifurcated into Motorcycle and Scooter/Moped segments. The motorcycle segment is expected to dominate the market during period in analysis, due to the lack of transportation resulting in increasing usage of mobility in rural and urban areas. Motorcycle taxis, also referred as Boda Boda, across African countries, such as Nigeria, Uganda, Kenya, and other Eastern African countries, contribute to the growth of two-wheeler sales. Motorcycle taxis are highly adopted across Africa to transport goods and passengers to inaccessible regions in both urban and rural areas. Furthermore, factors such as increased public transit demand, simple financing, and an influx of inexpensive imports from Indian manufacturers are all contributing considerably to the expansion of the African two-wheeler market.

Impact of COVID-19 on Africa Two-Wheeler Tire Market 

Covid-19 had a detrimental effect on two-wheeler tire market in Africa due to the region-wide lockdown, the two-wheeler market was hampered by a mix of demand and supply challenges. The pandemic had a negative impact on economies and businesses, resulting in lockdowns, travel bans, and business closures. The closure of plants and factories affected supply chains, negatively impacting manufacturing, delivery schedules, and product sales in the market. Few corporations already acknowledged anticipated delays in product deliveries and a decline in product sales. Overall investments decreased dramatically during the lockdown, total production fell, and imports of goods and services plunged, significantly damaging the economy and consumer spending in 2020. This loss caused a significant deflation in the two-wheeler tire market. However, it is currently rising and is expected to overcome the decline during 2021–2022 due to the governments’ stimulus for economic recovery and resuming international trades and investments. Tire manufacturers were compelled to implement online platforms to distribute tires via e-commerce platforms and offer door-step delivery and installation services to their consumers to remain competitive in the market during the crisis. Hence, such factors contributed to the expansion of Africa two-wheeler tire market.

Competitive Landscape

Major players operating in Africa two-wheeler tire market include Michelin Group, Bridgestone Corporation, Goodyear Tire and Rubber Company, Continental AG, Dunlop Ltd, Toyo, Stamford Tyres Corporation, Maxxis International, Pirelli & C. S.p.A., The Yokohama Rubber Co., Ltd., Cooper Tire & Rubber Company, and Hankook Tire & Technology Group. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

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